31% Of Americans Have No Retirement Savings At All (20 year old, distribution, physically)
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freemkt ,it is all part of the process of developing a profile for someone you don't know ,good or bad.
is your credit score being poor a reflection of making poor choices and decisions in life? is it the inability to prepare in advance for what were problems down the road?
perhaps who you are as a person is reflected in how you treat your money or the reason you lack money to stay current with bills ?
many spend more than because they think less than and rack up debt for stuff over and over as a way of making themselves feel better ..
maybe even an honesty issue as a group , the insurance industry seemed to find a link .
running in to financial trouble is usually not one event. it is usually a series of poor choices and decisions leading up to eventually the point that throws you in trouble. whether bad financial decisions ,lack of motivation ,creativity and drive to do better started you out bad or it ended up bad the fact is it does not profile you as very responsible.
it really does not matter if any or all apply , the fact is why bother even sorting the wheat from the chaff ,just move on to the next applicant.
employers prefer to at least start with a potential applicant who passes the smell test.
what happens later is a different story but at least you did a thorough screening to increase your odds.
I lived on pretty much a minimum wage income - not always full time (available work was variable) for years (no insurance) and abruptly landed in hospital for an extended stay and left with limited mobility (required a walker) for over a year. Total loss of income, all open accounts were closed and charged off - that is what's on my credit report (traded and re-aged) with no new credit activity. Relocated to stay with relatives until I could work again and earn money. I left behind $10K of eBay inventory, as shipping would have been expensive and I had no way to store it without paying money I did not have.
I have no marketable jobs skills other than janitorial. In only one year have I earned more than $15K (max $17K). Nobody has suggested I have a spending problem, but it I am unable to earn a half-decent income, how do people expect me to resolve my financial issues?
Currently I again have $10K of inventory to sell, but have logistical issues because my living space consists of one room - my inventory is kept in aid storage and I have to take it to a friend''s just to get listing photos. If I could do it all from home /i could sell far more and earn far more.
How I treat my money is very tightly - how can people have a problem with that? As for honesty, I first got into trouuble some years ago when I owed nearly $2K in tax (mostly SE tax) on income of $10K. As it was SE income, dishonesty (e.g. not reporting the income) would probably have avoided that problem: it would have avoided me a tax lien which lasted for years. Perhaps employers would have preferred a dishonest me without tax lien to the honest me with tax lien?
I lived on pretty much a minimum wage income - not always full time (available work was variable) for years (no insurance) and abruptly landed in hospital for an extended stay and left with limited mobility (required a walker) for over a year. Total loss of income, all open accounts were closed and charged off - that is what's on my credit report (traded and re-aged) with no new credit activity. Relocated to stay with relatives until I could work again and earn money. I left behind $10K of eBay inventory, as shipping would have been expensive and I had no way to store it without paying money I did not have.
I have no marketable jobs skills other than janitorial. In only one year have I earned more than $15K (max $17K). Nobody has suggested I have a spending problem, but it I am unable to earn a half-decent income, how do people expect me to resolve my financial issues?
Currently I again have $10K of inventory to sell, but have logistical issues because my living space consists of one room - my inventory is kept in aid storage and I have to take it to a friend''s just to get listing photos. If I could do it all from home /i could sell far more and earn far more.
How I treat my money is very tightly - how can people have a problem with that? As for honesty, I first got into trouuble some years ago when I owed nearly $2K in tax (mostly SE tax) on income of $10K. As it was SE income, dishonesty (e.g. not reporting the income) would probably have avoided that problem: it would have avoided me a tax lien which lasted for years. Perhaps employers would have preferred a dishonest me without tax lien to the honest me with tax lien?
You seem intelligent and didn't you at least attempt law school? How did you end up with no other skills than janitorial?
I lived on pretty much a minimum wage income - not always full time (available work was variable) for years (no insurance) and abruptly landed in hospital for an extended stay and left with limited mobility (required a walker) for over a year. Total loss of income, all open accounts were closed and charged off - that is what's on my credit report (traded and re-aged) with no new credit activity. Relocated to stay with relatives until I could work again and earn money. I left behind $10K of eBay inventory, as shipping would have been expensive and I had no way to store it without paying money I did not have.
I have no marketable jobs skills other than janitorial. In only one year have I earned more than $15K (max $17K). Nobody has suggested I have a spending problem, but it I am unable to earn a half-decent income, how do people expect me to resolve my financial issues?
Currently I again have $10K of inventory to sell, but have logistical issues because my living space consists of one room - my inventory is kept in aid storage and I have to take it to a friend''s just to get listing photos. If I could do it all from home /i could sell far more and earn far more.
How I treat my money is very tightly - how can people have a problem with that? As for honesty, I first got into trouuble some years ago when I owed nearly $2K in tax (mostly SE tax) on income of $10K. As it was SE income, dishonesty (e.g. not reporting the income) would probably have avoided that problem: it would have avoided me a tax lien which lasted for years. Perhaps employers would have preferred a dishonest me without tax lien to the honest me with tax lien?
do you think we were all born with marketable job skills? so the answer is you get them the same way we all got them.
That has much to do with government polices, rules and regulations. Don't get me wrong, I'm not ignorant of the issue with retirement plans. You need 3 sources of retirement income:
1] yourself through your own efforts
2] an employer-based plan,
3] insurance --- which is what Social Security is
If you're supporting legislation that oppresses employers, then you'll need to find some way to replace employer-based plans. With government? No, only if government surrenders Social Security and privatizes it. Two government programs would be totally stupid and very bad policy.
(snip)
Oh, yes, spend $50 on lotto tickets or use the $50 to purchase a $100 E-Series savings bond?
$100 on cigarettes, or $100 on stocks?
$100 a on beer, or $100 on bonds?
NetFlix or Certificates of Deposit?
Wow....such hard choices......life is so unfair as to be totally unbearable.
(snip)
Looks like it turned out to be not so easy....
Mircea
Many low-wage workers are not able to work into old age my boss used to say that there are no old garbagemen because they become physically unable to do that work. (This was when garbage cans were lifted manually rather than hydraulically)
Low-wage workers often don't have retirement source #1 or source #2. Yet you oppose their efforts to enjoy a dignified life by reducing their housing costs.
...
What about low-wage workers who can't afford EITHER of those things?
Many low-wage workers are not able to work into old age my boss used to say that there are no old garbagemen because they become physically unable to do that work. (This was when garbage cans were lifted manually rather than hydraulically)
Low-wage workers often don't have retirement source #1 or source #2. Yet you oppose their efforts to enjoy a dignified life by reducing their housing costs.
...
What about low-wage workers who can't afford EITHER of those things?
Looks like it turned out to be not so easy....
what about them? if they can't come up with a way like the rest of us it isn't for us to tell them how .
what worked for each one of us isn't the answer for them or you so you can stop asking. i can tell you what doesn't work and that is lowering the standards bar on everything.
do you think we were all born with marketable job skills? so the answer is you get them the same way we all got them.
Dang! Schools demand cash up front. I considered becoming a self-trained accountant but people insisted employers require tangible credentials before they hire.
I lived on pretty much a minimum wage income - not always full time (available work was variable) for years (no insurance) and abruptly landed in hospital for an extended stay and left with limited mobility (required a walker) for over a year. Total loss of income, all open accounts were closed and charged off - that is what's on my credit report (traded and re-aged) with no new credit activity. Relocated to stay with relatives until I could work again and earn money. I left behind $10K of eBay inventory, as shipping would have been expensive and I had no way to store it without paying money I did not have.
I have no marketable jobs skills other than janitorial. In only one year have I earned more than $15K (max $17K). Nobody has suggested I have a spending problem, but it I am unable to earn a half-decent income, how do people expect me to resolve my financial issues?
Currently I again have $10K of inventory to sell, but have logistical issues because my living space consists of one room - my inventory is kept in aid storage and I have to take it to a friend''s just to get listing photos. If I could do it all from home /i could sell far more and earn far more.
How I treat my money is very tightly - how can people have a problem with that? As for honesty, I first got into trouuble some years ago when I owed nearly $2K in tax (mostly SE tax) on income of $10K. As it was SE income, dishonesty (e.g. not reporting the income) would probably have avoided that problem: it would have avoided me a tax lien which lasted for years. Perhaps employers would have preferred a dishonest me without tax lien to the honest me with tax lien?
another bad decision was buying 10k of stuff you can't sel for one reason or another l.that 10k would have been far better spent learning marketable job skills or trade.
what about them? if they can't come up with a way like the rest of us it isn't for us to tell them how .
what worked for each one of us isn't the answer for them or you so you can stop asking. i can tell you what doesn't work and that is lowering the standards bar on everything.
I've come up with a way employiing the Free Market but Mircea for some reason suddenly shies away from the Free Market. Curious.
I lived on pretty much a minimum wage income - not always full time (available work was variable) for years (no insurance) and abruptly landed in hospital for an extended stay and left with limited mobility (required a walker) for over a year. Total loss of income, all open accounts were closed and charged off - that is what's on my credit report (traded and re-aged) with no new credit activity. Relocated to stay with relatives until I could work again and earn money. I left behind $10K of eBay inventory, as shipping would have been expensive and I had no way to store it without paying money I did not have.
I have no marketable jobs skills other than janitorial. In only one year have I earned more than $15K (max $17K). Nobody has suggested I have a spending problem, but it I am unable to earn a half-decent income, how do people expect me to resolve my financial issues?
Currently I again have $10K of inventory to sell, but have logistical issues because my living space consists of one room - my inventory is kept in aid storage and I have to take it to a friend''s just to get listing photos. If I could do it all from home /i could sell far more and earn far more.
How I treat my money is very tightly - how can people have a problem with that? As for honesty, I first got into trouuble some years ago when I owed nearly $2K in tax (mostly SE tax) on income of $10K. As it was SE income, dishonesty (e.g. not reporting the income) would probably have avoided that problem: it would have avoided me a tax lien which lasted for years. Perhaps employers would have preferred a dishonest me without tax lien to the honest me with tax lien?
Why would criminal behavior be an answer? For the record, sugarcoating it to call it "dishonesty" covers up the fact that the behavior was illegal. You OWED the money. The fact that you didn't pay, and didn't know you had to pay, is nobody's fault but your own. Income is taxable. I know it. Millions of taxpayers know it. As my dad used to drill into my head as a child, "ignorance is no excuse for breaking the law".
You seem to think that the fact that you had this unforeseen (?) expense justifies criminal behavior. In that line of thinking, theft would solve a lot of your problems. Why not go there?
another bad decision was buying 10k of stuff you can't sell.that 10k would have been far better spent learning marketable job skills or trade.
??? I was actually selling stuff and obviously could not continue selling in hospital. One of the big dealers ended up buying it from my boss for probably a song and probably made a pile of cash.
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